Johannesburg, 17 Sep 2014
Transformation has always been very important to StorTech, and the company's continued focus on this critical issue has recently borne fruit in a quite spectacular manner. StorTech's latest broad-based black economic empowerment (B-BBEE) score of 90.37, accredited by EmpowerLogic, has seen the company overtake Datacentrix, Gijima, Altech and Business Connexion to become one of the top empowerment companies in the ICT sector.
This, says chairman of the board Vuyani Jarana, reflects the depth of StorTech's commitment to transformation in every aspect of its business. The organisation, he says, looks at transformation holistically, from equity ownership and management control right through to employment equity and enterprise development.
"StorTech has been actively driving B-BBEE and transformation over the last few years, which has led to our visible improvement from Level 4 to Level 2," says Jarana.
"Our hard work in this regard has certainly paid off and is reflected in our scores, with StorTech leaping from a score of 66.00 in 2011 to a score of 90.37 in 2014. This represents a 26.96% improvement in our B-BBEE rating, which is why we are now at the forefront of the ICT industry in this respect. I feel StorTech is providing a particularly good example to the rest of the sector, which has - in the main - been quite slow to transform."
Jarana indicates the latest results are a tangible expression of StorTech's business strategy, which remains heavily focused on both innovation and transformation.
Innovative approach
In other words, he continues, StorTech's business philosophy has always been to innovate for success, applying world-class technologies in an innovative way. Equally, the company has adopted the same pioneering approach to empowerment. StorTech actively supports skills development and training initiatives for black employees and works hard to implement a staff complement that reflects the country's demographics.
"We pride ourselves on the large number of highly skilled people the company employs and strive to be the employer of choice. We also have an active learnership programme that has resulted in many of our learners being appointed to permanent roles in the business."
StorTech views empowerment as more than just ticking boxes and 'playing the numbers', says Jarana. "We see it as a way of strengthening our own company, growing the ICT sector and creating a positive ripple effect within the broader economy. This means empowering our staff with transferable skills but also, among other things, supporting the growth and development of empowered companies in the small and medium enterprise (SME) sector."
To this end, StorTech has committed to implementing favourable payment terms for black-owned, black-empowered and black-engendered SMEs of less than or equal to five days. This in turn demonstrates the way in which the company views B-BBEE.
"These favourable terms allow SMEs to benefit from a cashflow perspective. Shorter payment terms of five days and less have a significant positive impact on up-and-coming black businesses. Furthermore, we're actively involved in socio-economic development projects, such as supporting underprivileged schools with the resources required to provide a good education. By allowing students the opportunity to learn and grow in an educationally conducive environment, we prepare the way for the next generation of ICT employees."
StorTech's CSI programme, suggests Jarana, is an important arm of its overall transformation strategy. This is why StorTech is as committed to supporting disadvantaged people and promoting development in these communities, he says, as it is to empowerment within the organisation.
Jarana continues: "Another way in which we are looking at transformation beyond the confines of our organisation is through our work supporting the public sector. Government impacts the lives of so many of the country's citizens. It's our ambition, through the use of ICT, to help public service entities improve service delivery and meet the goals identified in the National Development Plan. Through our engagements, we're also committed to the transfer of skills and knowledge to those working with these technologies."
Making a difference
"It's always nice to be able to claim that StorTech is one of the most empowered companies in the ICT sector, but what we are most proud of is the fact that we are genuinely facilitating transformation and socio-economic development.
"Of course, our transformation work remains a drop in the ocean in the ICT sector; for B-BBEE to truly succeed, the industry as a whole needs to proactively support the various elements of transformation. Moreover, they must not simply do this because it is a compliance requirement. I believe that the only way the industry and the country as a whole will see the real benefits of B-BBEE, is if it's taken seriously and viewed as something that is beneficial not only within the sector, but the country as a whole. Ultimately, we all need to work together if we're going to ensure that B-BBEE succeeds," concludes Jarana.
The numbers:
* StorTech is 36.43% black-owned
* A total of 60% of management is black, Indian or coloured
* Some 92% of skills development expenditure is dedicated to these groups
* StorTech sponsors participation in registered ICT learnerships for unemployed youth.
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